Top 5 Challenges In the Mining Industry And Ways To Solve Them

Every industry is struggling hard for existence and lifestyle. There is no exception to why mining transport companies in New South Wales have many challenges in their existence. Technological changes, urbanization, production of materials, and environmental concerns are some factors that create immense pressure on the mining industry in different ways.

Here is a list of challenges a mining company must address to focus its growth:

• Access to Energy

Resources have become limited in some areas, and businesses are compelled to find new searching. It makes the process more expensive than traditional mining. Therefore, the mining industry depends on rental power solutions.

To reach the remaining resources, mining companies are replaced in off-grid locations. It makes their lifestyles poor. They are no longer capable of building permanent power infrastructure to run their mining service, but they find it beneficial to use the electrical network efficiently with their changing lifestyle.

• Health and Safety

Mining is known as a risky profession. Coal dust inhalations, a poor hearing because of the excessive noise in mines, and exposure to harmful chemicals are some threats workers face as a part of the mining industry. Besides, there are many more issues people experience with the changing nature of mining transport companies.

Discovering more resources, mines are getting deeper, and it has enhanced the risk of collapsing more than before. Rising surface temperature, unpredictable climate, and increased temperature of the mines make everything hazardous in a worker’s life and make their life more struggling than before. These days, temperature control and consistent ventilation systems become two emphases keeping workers safe from dangerous fumes.

• Access to Capital

Smaller mining transport companies in New South Wales are experiencing capital issues with the increasing production costs. Mining practices are seriously expensive. These small companies face remarkable challenges as they don’t have investors to run the increased operational costs.

Flexible finance is an excellent choice for smaller mining transport services to continue their business. Many companies have stopped their units because of the scarcity of capital.

• Unstable commodity prices

Unstable commodity prices make it hard for mining companies to plan their expenditure and income policy. Disturbance in commodity prices has pushed many businesses to close their operations or to make remarkable cuts in their workforce. Therefore, it is a significant challenge for the mining transport services to balance cost and improve efficiency.

• Environmental footprint

The mining industry is known as the carbon-intensive industry. Mining companies are looking for ways to reduce their carbon footprints by balancing their energy consumption. With the advancement of renewable energy, companies now depend on hybrid power solutions to continue mining operations. By combining battery storage, thermal generation, and renewable energy, mining transport services can considerably develop their competence while managing their environmental footprint.

How to solve these challenges:

To address these challenges, the mining industry adapts the best possible practices to maximize its production. Their responsibility and concise decisions help the industry move forward with success.

These social, financial, and environmental barriers bring a lot more difficulty to mining transport companies in New South Wales, but new ideas and their implementation help them grow potentially by defeating these challenges.

For more information on the challenges faced by mining transport companies in New South Wales, contact Turner’s Heavy Haulage.